I and you just might have a future as a Ethereum (ETH) investor. Seriously! This coin dominated in the digital market when the crypto took over the world. I’ve studied the issue and now I’m ready to discuss all the benefits, share the first steps in performing some operations with the money, and think about the best method to buy ETH on proven exchanges.
The processes of purchasing ETH depend on exchange platforms, yet the main points are the same, that’s worth pointing out. One new to crypto will find it really easy as sending an online payment. So just follow all steps I described below to avoid surprises:
- register with Ethereum exchanges – look up to CEX.IO or Binance
- store ETH – 1. on the exchange, 2. in your wallet (create if needed)
- If you plan small purchases
- If you plan large purchases
And it appears that eToro platform is worth our attention, with providing CFD trade and safety of the currency, the interesting thing is that it’s managed without a purchase of the latter. I am going to show you really what it’s like though.
Register on Exchange Platform
Speaking out about the registry surrounding us. One day after showing a willingness to join the exchange site, the owners cast users submit a few important details about yourself: name, surname, mail, mobile number. That what services call a standard operation procedure.
However, not with every platform it can work, not every is ready to concede depositing or withdrawing identity checks. And besides seeing the great before/afters, get to know everything behind that.
Complete Identity Checks
Soon after the depositing (or before), prior to cashout, check if an exchange carries out the following examinations: AML (Anti-Money Laundering) + KYC (“Know Your Customer”). Before all starts, you shall prove your photo identification (ID) and address.
Choose a Deposit Method
Jump at this opportunity to use any banking method of a list available. These’re often a mix of credit card, bank/wire transfers and plus/minus PayPal payments – popular options as a general rule. FYI: Each platform will usually charge fees for any transaction; all details are typically written in the websites’ footer.
Visa, Master Card to name the most popular cards conduct in/out transactions within a day or so, but their fees sometimes exceed the highest points, that’s the price for comfort though.
It feels like SWIFT, SEPA aren’t welcomed everywhere, but still, there’re exchanges, which support depositing via wire transfers, of course, accompanied with fees, approximately 3.5% + $0.25 charges per transaction. The starting sum begins from $100, but varies from place to place and takes one banking day or + as usual.
Those who advise Paypal, evidently, think of its refund possibility, but it may result into a longer transaction time, higher fees and unavailability of funds for some period (60 or so days). So you know.
It’s possible to deposit btc, making a transfer from a wallet to an exchange account, but get ready to bear a higher cost – fees and timing.
Buy Ether With Your Funds
Ok here it goes! No matter where you are, the crypto world calls for actions. Do you feel it? Those preparing to deposit in fiat or crypto are in for an excellent opportunity to buy the Ether through a platform, but only when your account at the exchange becomes positive as we’ve found out.
In my sneak peek at Coinmama, for example, the platform assists you in every aspect, my worries were pointless.
How long will all deposits take to become credited? Searching for a response to this question, the exact time line has been discovered – 24 hours and several days.
Select an order and purchase, after receiving eth on your account balance, you have 2 options: to keep it on the exchange and to withdraw the money for moving it to your wallet after.
Why Invest in Ethereum?
There’re a lot of views on ETH, so you never know. I mean, they offer an access to token sales, blockchain investment, so hopefully my investments will work out and besides only diversifying my portfolio. I know that creepy fiat system is no longer what I want. The crypto inventors share my ideas, let alone the advantages: using smart contracts or interacting with IoT devices, besides the EVM, paying wages on international level.
I showed the complications. I showed some healing issues. I showed nastiness to avoid when investing into ETH. That’s why, you and I are just going to rock the digital world, aren’t we?